Cardano has a large chunk of about 72% of the total amount invested in ADA. Cardano remains the leading decentralized blockchain network in the world of cryptocurrencies. The considerable rise in the number of crypto assets invested in Cardano tallies with the same substantial increase in the number of new entrants into the Cardano platform.
ADA is now getting close to $1, its record level. Cardano maintains the position as the number one decentralized blockchain network worldwide. Polkadot was once occupying the first position status with the highest staked value before being overtaken by Cardano. Now, Cardano has maintained the position of the top decentralized network worldwide since January.
Polkadot has only 60% of DOT staked
The firm’s recent data revealed that about 55% of ADA wallets are already staked on a pool. In short, about 214,600 ADA wallets are planning to put their fund in the Cardano pools. Virtually all the metric you see in ADA shows that the platform is decentralized.
As the amount of delegated wallets kept rising, the amount of ADA wallets available on the platform also kept growing. A report shows that about 392,880 ADA wallets are available on the market. This is a 59% rise from 244930 seen January 15. The total amount of ADA available in the wallets is another primary yardstick showing that the Cardano platform is decentralized. Contrary to other Cardano’s data, there has been a continuous decline in the average ADA wallet. That is, there are a few big and powerful investors using Cardano. The retail investors are not giving the big players a chance.
Looking at the data carefully, you’ll notice that the average person using ADA has reduced drastically by 38% in a month. Late last January, Cardano had about half of its wallets on a stake pool. Pundits have stated that the general bearish trend seen in the market has led to the continuous surge in the number of other ADA wallets being produced and the number of ADA staked. Meanwhile, in December and January, Cardano’s metric was rising at a faster pace.
Cardano Set to Achieve its Scalability and Transparency Goals
A report published by Nierop indicated that on January 25, the amount of ADA delegated wallets hit a record level of 152400. That was 55% in December, and it has now risen beyond 70% as of the time of writing this report.
Cardano is an outstanding blockchain in hosting ADA crypto, meeting its goal of being the most sustainable, transparent, and scalable network. The network was created by top experts in the field of academics and engineering. It offers stability and security to its users.
Part of Cardano’s mission includes operating a crypto network using ADA to monitor its foundation. The network was founded in Switzerland in 2015. It entered the market with a $600million market capitalization. In just two years, it reached up to $10billion. Cardano claimed then that the slow pace of BTC and Ether’s inadequate safety were some of the problems that Cardano was set out to solve.